US headline inflation slowed to 0.4% in October after rising 0.6% in September. Core prices, however, increased by 0.3% for a third consecutive month, a level Christopher Waller said could justify considering a 50-basis-point rate hike in December. The report does not establish a Federal Open Market Committee decision, and the data needed for annual comparisons were not collected. Shelter accounted for more than 30% of the monthly increase, while energy, food, recreation and motor vehicle insurance also recorded increases.
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